AI Hedge Awards 2017

Acquisition International - Hedge Fund Awards 2017 55 JBS Investments Best International Equities Fund Manager - Australia JBS Investments Company: JBS Investments Address: Level 36, 71 Eagle Street, Brisbane QLD 4000, Australia Phone: +61 2 8035 0036 Email: Web: HF170065 JBS Investments is a leading globally focused fund management company based in Australia that pursues a research-driven investment strategy based on fundamental value. We profile the firm and explore the range of services it offers. JBS Investments offers a versatile approach which has been successful applied across industries and countries. The process revolves around investing capital in listed businesses that are misunderstood and where the firm can ascertain the reason for the market’s mispricing, often in investment themes that are played out over years. This is unique because whilst many investors start by locating a security that appears to be trading cheaply (usually by the use of statistical screening methods) and then working backwards to try to establish why it is trading cheaply, such a method tells them that a security is cheap, but not why. In order to mitigate risk and ensure strong return on investment for clients, JBS Investment prefer to start their search in areas of the market where it expects to find securities that are misunderstood. Once the firm have established that a security is misunderstood it conducts an in-depth analysis to determine if the security is trading cheaply. A result of this process is that the company tend to undercover unique investment opportunities that do not show up on statistical screens. Overall, a key competitive advantage of JBS Investments is the expertise that the firm has developed through investing in companies or countries that are in transition and are misunderstood as a result. This may be due to either a corporate event (such as a recapitalisation, restructure, merger, divestment or bankruptcy), complexity, appearance of conflict of interest issues, accounting that does not reflect the underlying economics of the business or a wider event of some kind (be it industry, environmental, economic or currency-related). The heightened uncertainty that comes with such situations leads to a scarcity of capital as investors are reluctant to act due to the lack of easy to follow investment metrics. Although capital markets tend towards efficiency over the long term with the value of securities determined by fundamental factors, temporary pricing inefficiencies often arise in such situations. This may be due to sentimental, technical and liquidity factors. As a result, investing during such periods of transition can generate attractive risk-adjusted returns for diligent investors focused on intrinsic value. These benefits highlight the success of JBS Investment’s approach, and moving forward the firm will continue to focus on this, adapting and developing the strategy in order to remain at the forefront of industry development. Libero Funds ​Best New Absolute Returns Fund: Libero Development Fund Libero Funds Company: Libero Devt Fund Name: Iain Cahill CIO and Mary Murphy COO Email:, Web: Address: 33-37 Athol Street, Douglas, Isle of Man, IM1 1LB HF170043 Libero Funds was developed through a combination of over 50 years’ experience in Alternative Assets Services, Funds and Financial Services and a deep frustration with poorly performing market correlated investment strategies. We profile the firm, providing a fascinating insight into the history and future of this innovative company. In 2012, Mary Murphy (Former Executive Managing Director of IFS) and Iain Cahill decided to create an investment strategy which is low risk with low volatility but generates strong returns in all market conditions. Some might define this as being the case for any Absolute Return Fund, however with the additional attribute of significant capital risk mitigation and a 2016 year to date net return over 9%, Libero Development Fund is clearly an award winning investment product. The Libero Development Fund’s investment strategy is designed to achieve consistently positive returns with low risk and low volatility. Based on the fund structure and key risk management policies, and agreed with the Auditors, the Fund only recognises income earned. By not recognising unrealised gains the monthly NAVs reflect actual income earned by the Fund. As a whole Libero offers a flexible framework with several funds for experienced investors. Supporting investors including Family Offices, Fund of Funds and Sophisticated Investors who are seeking a real alternative investment to cash or cash equivalent low risk strategies while at the same time seeking strong capital growth or income, Libero is dedicated to listening to investor requirements and working with experts in all aspects of the funds operation. Where the firm work with large (institutional) investors, the Funds can be tailored to manage for liquidity and investment timeframes and other bespoke requirements. Overall Libero aims to see Libero Development Fund become a true benchmark fund within the Absolute Return Funds sector. In order to achieve this the firm will implement the Libero Development Fund strategy and deliver additional Fund strategies recognising international investor demand. This aim, alongside the firm’s growing track record and AUM, together with several third parties very keen to joint venture means that ultimately, 2017 looks set to be an exciting year for the firm- and investors should definitely keep an eye out for new developments.